Fast money is piling into dollar longs ahead of the Fed and it won't last

US dollar leads the way today

The fast money Fed trade is to buy the US dollar on anticipation of a rate hike. But what happens afterwards?

The US dollar is the top performer today, gaining an almost-identical 0.65% against the yen, franc, pound, euro and Australian dollar. To me that says today’s action is purely about US dollar positioning.

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